AXA MBASK enhances resistance to the risks

BAKU/04.02.14/TURAN : The insurance company AXA MBASK plans to increase its charter capital by almost two- thirds (63 %). After repayment of the issue and registration at the Ministry of Taxes , this amount will reach 14.32 million manat .

According to the State Securities Committee (SSC), on February 3, the issue prospectus was registered and the shareholders decided to release additional 14,400 ordinary non-documentary shares of this company.

Face value of each of them is 382 manats. Increase after placement on the BSE will be 5.58 million manat . The registration number is AZ1002003692.

Open Joint Stock Company AXA MBASK has been operating in the insurance market of Azerbaijan since 1992 and provides services in 25 voluntary and 4 compulsory types of insurance .

Recall that in October 2010 the insurance company changed its main shareholder. The controlling stake (51%) was acquired by AXA Group ( France) through its subsidiary AXA Sequros Generales, SA, De Sequros Y Reasequros ( Spain) .

On December 7, 2010 the license of MBASK was updated into AXA MBASK in connection with the change of the company's name .

The paid-in share capital of the company now stands at 8.74 million manat.

It has a network of five branches and representative offices . - 17D-


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